Term Sheet for High Grade Gold Project in Canada
Gunsynd Plc has entered into a binding Term Sheet to acquire a 10% interest in the Eagle Gold Project in Ontario, Canada, for £170,000 cash and 32,258,065 new ordinary shares at 0.155 pence each, with the project encompassing 95 mining claims over 1,960 hectares and historical sampling showing up to 204 g/t gold. Additionally, AlbR Capital Limited has been appointed as the Company's Corporate Broker.
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Gunsynd (AIM: GUN), an investing company, is pleased to announce that it has entered into a legally binding Term Sheet with Ulvestone Ltd (the "Vendor") which sets out the indicative commercial terms pursuant to which it is proposed that the Company will enter into a farm-in agreement (the "Agreement") with respect to the Eagle Gold Project consisting of certain licences over prospective acreage in Canada (the "Proposed Transaction").
Highlights
- 10% proposed acquisition of the Eagle Gold Project, Ontario
- 95 mining claims, 1,960 hectares situated in the Wabigoon Greenstone belt which includes the numerous other gold deposits as per Schedule A
- 27 km southwest of Dryden Ontario
- Road access to within 3km of the property
Historic sampling of up to 204 g/t
2025 field campaign of 21 grab samples included 3 samples of > 25g/t au with the largest being 75.7g/t au.
26 shallow holes drilled 1951-1985
1982 - 1985, Significant Results
| DDH | From (m) | To (m) | Interval (m) | Au (g/t) |
|---|---|---|---|---|
| R-82- 3 | 64.00 | 67.06 | 3.05 | 1.95 |
| R-83- 6 | 53.34 | 59.44 | 6.10 | 1.64 |
| R-83- 10 | 5.24 | 7.62 | 2.38 | 1.20 |
| 24.38 | 30.48 | 6.09 | 1.70 | |
| 35.05 | 38.10 | 3.05 | 1.13 | |
| 42.67 | 45.72 | 3.05 | 2.54 | |
| 99.01 | 102.11 | 3.05 | 3.94 | |
| R-83- 11 | 17.98 | 18.75 | 0.76 | 1.95 |
| 101.50 | 103.02 | 1.52 | 2.78 | |
| R-85- 12 | 18.29 | 19.51 | 1.22 | 2.74 |
| 23.16 | 24.23 | 1.07 | 8.23 | |
| 27.43 | 30.48 | 3.05 | 2.05 | |
| 36.58 | 39.62 | 3.05 | 2.05 | |
| R-85- 13 | 51.82 | 54.86 | 3.05 | 7.54 |
| R-85- 16 | 9.14 | 12.19 | 3.05 | 2.05 |
Under the Term Sheet, Gunsynd will acquire a 10% legal and beneficial interest in the Eagle Gold Project in Ontario Canada (the "Project"). Subject to entering the Agreement, the consideration will be satisfied by:
- Payment to the Vendor £170,000 in cash
- 32,258,065 new ordinary shares of 0.085 pence ("Ordinary Shares") in Gunsynd at a price of 0.155 pence per share.
A 2% net smelter royalty payable exists over the license/permits in the Project.
Corporate Broker
Following the merger of the capital markets businesses of Peterhouse Capital Limited and Novum Securities Limited into AlbR Capital Limited, effective from 1 October 2025, the Company is pleased to announce that AlbR Capital Limited has been appointed as Corporate Broker to the Company.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.